LONDON (Reuters) – British shop prices fell in October for a sixth consecutive month, led by steep falls in clothing and electrical items, the British Retail Consortium said on Wednesday.
Prices were on average 0.5 percent lower than a year ago, matching the record drops seen in July and August.
The continued fall in shop prices will provide some relief to households at a time of soaring energy bills and below-inflation wage rises.
“Despite the slightly more optimistic economic outlook, across the industry we are seeing that consumers are still reluctant, unwilling or, in some cases, unable to increase spending,” said Mike Watkins, head of retailer and business insight at Nielsen, which collates the data.
(Reporting by Christina Fincher; Editing by Kevin Liffey)
- British Retail Consortium